APEC 2020: Government emphasises multilateral trade - Muhyiddin

KUALA LUMPUR: The Government will place emphasis on support and commitment to the multilateral trading system to ensure stability and the market continues to move even in times of crisis.

Prime Minister Tan Sri Muhyiddin Yassin said it was the best mechanism in the World Trade Organisation (WTO) that ensures differences between countries in the issue could be resolved.

He explained that most importantly, it was in line with the main goal of the Asia Pacific Economic Cooperation (APEC) for free and open trade and investment in the region.

"In this regard, we must make time to realise that free and open trade and investments are producing greater prosperity in Asia Pacific.

"However, by acknowledging this, we must also be aware of the fact that the benefits derived from trade and investment have not been felt in all segments of our society.

"To this day, there is plenty of room for us to enhance the trade and investment narrative with the aim of bringing benefits to everyone," he said in his opening remarks at APEC 2020 on Thursday.

Apart from that, he said, priority was also given to efforts to improve the digital economy after the urgent need to create jobs and return workers to the job market.

Muhyiddin added that innovation and digitisation are fundamental in this context and at the same time revive economic activities and ensure the health and well-being of the people is maintained.

Meanwhile, he said, the government would also give priority to inclusive economic growth.

It ensures that nothing is left behind during the economic recovery.

He explained that it includes an economic approach that gives particular emphasis on women and youth as the economic backbone of the region.